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On The Morality Of The Fed

Tyler Durden's picture


Via The Baupost Group:

"Finally, we must question the morality of Fed programs that trick people (as if they were Pavlov's dogs) into behaviors that are adverse to their own long-term best interest. What kind of government entity cajoles savers to spend, when years of under-saving and over-spending have left the consumer in terrible shape? What kind of entity tricks its citizens into paying higher and higher prices to buy stocks? What kind of entity drives the return on retiree's savings to zero for seven years (2008-2015 and counting) in order to rescue poorly managed banks? Not the kind that should play this large a role in the economy."




"An environment where financial crises are seen to be a regular part of the landscape is one where people might actually take more precautions. People would maintain a margin of safety in all their decisions, investment and otherwise, regulations would be well thought out and diligently enforced, and the unscrupulous and the incompetent would quickly fail and disappear from the scene. Modern day attempts to abolish failure only serve to ensure it, as moral hazard - the likelihood that people's behavior changes in response to artificial supports or guarantees - surges. Attempts to prevent or wish away future crises only make them more likely. Only by allowing, even welcoming, episodic failure do we have a chance of reducing the likelihood and magnitude of future financial crises."


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Fri, 12/21/2012 - 22:12 | 3089131 Yen Cross
Yen Cross's picture

U bend over> I insert debt/

Fri, 12/21/2012 - 23:46 | 3089253 Silver Bug
Silver Bug's picture

Morality of the FED?? Cannot compute.

Sat, 12/22/2012 - 00:11 | 3089271 Yen Cross
Yen Cross's picture

Agreepiss poor.

Sat, 12/22/2012 - 00:54 | 3089317 Anusocracy
Anusocracy's picture

We need to raise the mortality rate of the Fed to 100%.

Sat, 12/22/2012 - 01:10 | 3089323 Yen Cross
Yen Cross's picture

 I think Knuckles layed out the Feds. mandate pretty well yesterday.?  

Sat, 12/22/2012 - 01:18 | 3089332 Michaelwiseguy
Michaelwiseguy's picture

Rare footage of Fed Chairman Ben Bernanke's childhood has recently surfaced.

He hasn't changed!!!

This is truly an extraordinary find!

Hat Tip Daily Paul.

Sat, 12/22/2012 - 01:51 | 3089348 Yen Cross
Yen Cross's picture

Little Rascals. That made my day! thanks Micheal. ( Thank God he didn't have access to a helicopter)

Sat, 12/22/2012 - 02:14 | 3089367 taxpayer102
taxpayer102's picture


Farrakhan Exposes the Federal Reserve and international bankers, 1995

Sat, 12/22/2012 - 02:54 | 3089390 macholatte
macholatte's picture



Yes, of course! It was Farrakhan!  

And all this time I thought it was was G Edward Griffin.


Sat, 12/22/2012 - 03:06 | 3089397 chumbawamba
chumbawamba's picture

I couldn't be bothered to track down where these excerpts came from to determine if there is a broader context  that might make these comments redundant, but all I can say is, wow, how stupid are these people?

Do they think the Fed's policies came about by accident?  Do they really think that the same people who brought us such hits as the Federal Reserve, the Civil War, the American Revolution, the Spanish Inquisition, etc. are so stupid? That the rulers of this world are so inept?

There is no such thing as an "economic crisis". There are only natural disasters or adverse weather patterns, and manipulation of an economy through war, sabotage, or other nefarious influences.  Period.

Their latest master manipulation is the so-called "fiscal cliff".



I am Chumbawamba.

Sat, 12/22/2012 - 03:21 | 3089403 macholatte
macholatte's picture
Seth Klarman Goes Nuts On The Fed In His Latest Investor Letter




John D. Rockefeller made his initial fortune in oil but soon gravitated into banking and finance. His entry into the field was not welcomed by Morgan, and they became fierce competitors. Eventually, they decided to minimize their competition by entering into joint ventures. In the end, they worked together to create a national banking cartel called the Federal Reserve System.

— G. Edward Griffin; The Creature From Jekyll Island

Sat, 12/22/2012 - 04:21 | 3089420 Michaelwiseguy
Michaelwiseguy's picture

This is the total explanation of every intricate detail of all life and everything physical, rediscovered by Marco Rodin.

This tells you why everything is and how everything is.

This shows you Where the God Spirit Energy within your DNA exists.

There are many avenues and aspects of this explanation on Youtube. I ask you to explore it for yourself, especially if you don't get it and can't sit thru this old 1997 video. Rodin is basically taking you from Kindergarten thru PHD in this video. If you can stand to get to 3:20:00 of viewing in this video, you will be blown away.

Vortex Based Mathematics - Marko Rodin

When you put this vortex mathematics into practical application, you double the amount of energy going out than you're putting in. In other words the margin is 100%.

Sat, 12/22/2012 - 08:13 | 3089527 zhandax
zhandax's picture

    John D. Rockefeller made his initial fortune in oil but soon gravitated into banking and finance. His entry into the field was not welcomed by Morgan, and they became fierce competitors. Eventually, they decided to minimize their competition by entering into joint ventures. In the end, they worked together to create a national banking cartel called the Federal Reserve System.

    — G. Edward Griffin; The Creature From Jekyll Island

You left out medicine....

Here is what medicine looked like before....

And G. Edward Grifin also did a speech on this subject, but what I found was a transcript including the introductions, and that did not convey the point quickly enough.

Sat, 12/22/2012 - 11:02 | 3089629 Hulk
Hulk's picture

Well done Sir !!!

He is Chumbawamba...

Sat, 12/22/2012 - 19:46 | 3090351 Mentaliusanything
Mentaliusanything's picture

And where has the Chum been. I know a bender can last a while but..... man Im never getting out on the town with you. you one sick puppy... but I did miss your take on things. You da man

Sat, 12/22/2012 - 13:01 | 3089721 Race Car Driver
Race Car Driver's picture

> There is no such thing as an "economic crisis". There are only natural disasters or adverse weather patterns, and manipulation of an economy through war, sabotage, or other nefarious influences.  Period.


+1 QFT

There wouldn't be any 'crisis' if we used real, tangible money and not virtual digits that some can create out of thin air; but the rest of us have to bust or sell our asses to aquire.


Sat, 12/22/2012 - 23:50 | 3090789 caconhma
caconhma's picture

There Is No Nobel Prize in Economics

October 12, 2012  |


 It’s Nobel Prize season again. News reports are coming out each day sharing the name of the illustrious winner of the various categories — Science, Literature, etc. But there’s one of the prizes that’s a little different. Well, that’s putting it lightly… you see, the Nobel Prize in Economics is not a real Nobel. It wasn’t created by Alfred Nobel. It’s not even called a “Nobel Prize,” no matter what the press reports say.


The five real Nobel Prizes—physics, chemistry, literature, peace, and medicine/physiology—were set up in the will left by the dynamite magnate when he died in 1895. The economics prize is a bit different. It was created by Sweden’s Central Bank in 1969, nearly 75 years later. The award’s real name is the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.” It was not established by Nobel, but supposedly in memory of Nobel. It’s a ruse and a PR trick, and I mean that literally. And it was done completely against the wishes of the Nobel familly. 

Sweden’s Central Bank quietly snuck it in with all the other Nobel Prizes to give free-market economics for the 1% credibility. One of the Federal Reserve banks explained it succinctly, “Few realize, especially outside of economists, that the prize in economics is not an “official” Nobel. . . . The award for economics came almost 70 years later—bootstrapped to the Nobel in 1968 as a bit of a marketing ploy to celebrate the Bank of Sweden’s 300th anniversary.” Yes, you read that right: “a marketing ploy.”


“The Economics Prize has nestled itself in and is awarded as if it were a Nobel Prize. But it’s a PR coup by economists to improve their reputation,” Nobel’s great great nephew Peter Nobel told AFP in 2005, adding that “It’s most often awarded to stock market speculators .... There is nothing to indicate that [Alfred Nobel] would have wanted such a prize.”


Members of the Nobel family are among the harshest, most persistent critics of the economics prize, and members of the family have repeatedly called for the prize to be abolished or renamed. In 2001, on the 100th anniversery of the Nobel Prizes, four family members published a letter in the Swedish paper Svenska Dagbladet, arguing that the economics prize degrades and cheapens the real Nobel Prizes. They aren’t the only ones.


Scientists never had much respect for the new economic Nobel prize. In fact, a scientist who headed Nixon’s Science Advisory Committee in 1969, was shocked to learn that economists were even allowed on stage to accept their award with the real Nobel laureates. He was incredulous: “You mean they sat on the platform with you?”


That hatred continues to simmer below the surface, and periodically breaks through and makes itself known.  Most recently, in 2004, three prominent Swedish scientists and members of the Nobel committee published an open letter in a Swedish newspaper savaging the fraudulent “scientific” credentials of the Swedish Central Bank Prize in Economics. “The economics prize diminishes the value of the other Nobel prizes. If the prize is to be kept, it must be broadened in scope and be disassociated with Nobel,” they wrote in the letter, arguing that achievements of most of the economists who win the prize are so abstract and disconnected from the real world as to utterly meaningless.


The question is: Why would a prize that draws so much hatred and negativity from the scientific community be added to the Nobel roster so late in the game? And why economics? To answer that question we have to go back to Sweden in the 1960s.


Around the time the prize was created, Sweden’s banking and business interests were busy trying to ram through various so-called "free-market" economic reforms. Their big objective at the time was to loosen political oversight and control over the country’s central bank.


According to Philip Mirowski, a professor at the University of Notre Dame who specializes in the history of economics, the “Bank of Sweden was trying to become more independent of democratic accountability in the late 60s, and there was a big political dispute in Sweden as to whether the bank could have effective political independence. In order to support that position, the bank needed to claim that it had a kind of scientific credibility that was not grounded in political support.”


Promoters of central bank independence couched their arguments in the obscure language of neoclassical economic theory of market efficiency. The problem was that few people in Sweden took their neoclassical babble very seriously, and saw their plan for central bank independence for what it was: an attempt to transfer control over economic matters from democratically elected government and place into the hands of big business interests, giving them a free hand in running Sweden’s economy without pesky interference from labor unions, voters and elected officials.


And that’s where the Swedish Central Bank Prize in Economic Sciences came in.

The details of how the deal went down are still very murky. What is known is that in 1969 Sweden’s central bank used the pretense of its 300th anniversary to push through an independent prize in “economic science” in memory of Alfred Nobel, and closely link it with the original Nobel Prize awards. The name was a bit longer, the medals looked a little different and the award money did not come from Nobel, but in every other way it was hard to tell the two apart. To ensure the prize would be awarded to the right economists, the bank managed to install a rightwing Swedish economist named Assar Lindbeck, who had ties to University of Chicago, to oversee the awards committee and keep him there for more than three decades. (Lindbeck’s famous free-market oneliner is:  “In many cases, rent control appears to be the most efficient technique presently known to destroy a city — except for bombing.”)


For the first few years, the Swedish Central Bank Prize in Economics went to fairly mainstream and maybe even semi-respectable economists. But after establishing the award as credible and serious, the prizes took a hard turn to the right.


Over the next decade, the prize was awarded to the most fanatical supporters of theories that concentrated wealth among the top 1% of industrialized society of our time.


In 1974, five years after the prize was first created, it was awarded to Friedrich Hayek, one the leading "laissez-faire" -- enrich the rich -- economists of the 20th century and the godfather of neoclassical economics. Milton Friedman, who was at the University of Chicago with Hayek, was not far behind. He won the prize just two years later, in 1976.


Both Hayek and Friedman were huge supporters of the political independence of central banks. In fact, they built their careers on bashing government intervention in economic matters. Hayek developed a whole business cycle theory that blamed government and government-controlled banking systems  for all economic ills. He also equated all government intervention will inevitably lead to totalitarianism. Friedman with a whole new subsection of neoclassical economics called “Monetarism” that had a scientific formula worked out, specifying exactly how much money central bankers needed to keep floating around in the economy to keep inflation low and unemployment high enough to keep big business happy. No democratic control over banking policies needed, just let the free-markets do its thing!  The Swedish central bankers couldn’t get better spokesmen for their cause.


But Hayek and Friedman’s usefulness went way beyond Sweden.


At the time of the prizes, neoclassical economics were not fully accepted by the media and political establishment. But the Nobel Prize changed all that.

What started as a project to help the Bank of Sweden achieve political independence, ended up boosting the credibility of the most regressive strains of free-market economics, and paving the way for widespread acceptance of libertarian ideology.


Take Hayek: Before he won the award, it looked like Hayek was washed up. His career as an economist was essentially over. He was considered a quack and fraud by contemporary economists, he had spent the 50s and 60s in academic obscurity, preaching the gospel of free markets and economic darwinism while on the payroll of ultra-rightwing American billionaires. Hayek had powerful backers, but was out on the fringes of academic credibility.


But that all changed as soon as he won the prize in 1974. All of a sudden his ideas were being talked about. Hayek was a celebrity. He appeared as a star guest on NBC’sMeet the Press, newspapers across the country printed his photographs and treated his economic mumblings about the need to have high unemployment in order to pay off past inflation sins as if they were divine revelations. His Road to Serfdom hit the best-seller list. Margret Thatcher was waving around his books in public, saying “this is what we believe.” He was back on top like never before, and it was all because of the fake Nobel Prize created by Sweden’s Central Bank.


Billionaire Charles Koch brought Hayek out for an extended victory tour of the United States, and had Hayek spend the summer as a resident scholar at his Institute for Humane Studies. Charles, a shrewd businessman, quickly put the old man to good use, tapping Hayek’s mainstream cred to set up and underwrite Cato Institute in 1974 (it was called the Charles Koch Foundation until 1977), a libertarian thinktank based on Hayek’s ideas. Even today, Cato Institute pays homage to the Swedish Central Bank Prize’s role in the mainstreaming of Hayek’s ideas and Hayek’s influence on the outfit:


The first libertarian to receive the Nobel Prize was F.A. Hayek in 1974. In the years leading up to the prize announcement, Hayek had reached a professional and personal nadir. Unable to maintain an appointment in the United States, Hayek had returned to Austria to take up a position at the University of Salzburg, Austria. With the announcement of the prize in 1974, however, Hayek’s work, and the fortune of Austrian economics, took a remarkable turn.


Hayek’s influence on Cato is profound. Two of Cato’s first books were by Hayek: A Tiger by the Tail: The Keynesian Legacy of Inflation & Unemployment and Monetary Policy: Government as Generator of the “Business Cycle.” Perhaps more than any other intellectual in the twentieth century, Hayek has inspired Cato and its researchers to develop policies that ensure a free society. When Cato moved into its current location in 1992, its auditorium was named in Hayek’s honor.

Friedman’s Nobel Prize had a similar impact. After getting the prize in 1976, Friedman wrote a best-seller, got his own 10-part PBS series Free to Choose and became President Ronald Reagan’s economic advisor, where he had a chance to put the society-crushing policies he developed in Chile under Pinochet.


Friedman would spend the rest of his time denying it, but he was deeply involved and invested in the Pinochet’s totalitarian-corporate  economic experiment. Chilean economist Orlando Letelier published an article in The Nation in 1976 outing Milton Friedman as the  “intellectual architect and unofficial adviser for the team of economists now running the Chilean economy” on behalf of foreign corporations. A month later Letelier was assassinated in D.C. by Chilean secret police using a car bomb.


Friedman’s monetary theory was used by Federal Reserve Bank Chairman Paul Volcker to restrict the money supply, plunging American into a deep recession, doubling the unemployment rate and had the added bonus of getting Reagan elected President. . . . And Hayek and Friedman were just the beginning.


For instance, in 1997 two economists won an award for their derivative risk models that minimized risk, just before the derivatives would explode in the 2000s real estate bubble.

Sun, 12/23/2012 - 01:12 | 3090871 NidStyles
NidStyles's picture

While I have my own disagreements with Hayek's work, he certainly was not a Libertarian, nor was he a big government Economist. His comments on the Central Bank were merely on how it would more efficiently. He openly denounced the Central Banks of England and the US during his time.

Hayek was also dead well before 1974, so I have no idea where that nonsense came from. I find it interesting that you state Milton Friedman built his work off of Hayek. That could not be further from the truth. Friedman built his work on top of Keynes, and used the language of the Rothbardians to disguise it.

In essence, I see that you are following thw whole Leninist policy of defaming any efforts that are counter to your argument. Most people may not be aware that Alternet is a Communist collective on the internet.

I will not warrant the rest of that nonsense with comment, it's mostly sophostic bullshit. 

Sun, 12/23/2012 - 10:50 | 3091233 Bob
Bob's picture


The Royal Swedish Academy of Sciences has awarded the 1974 Prize for Economic Science in Memory of Alfred Nobel to

Professor Gunnar Myrdal and Professor Friedrich von Hayek

Wed, 12/26/2012 - 00:20 | 3095671 NidStyles
NidStyles's picture

Great now you are on the page we were in 1974. It doesn't change my comment. Hayek was dead by the time they gave him the award, and the only reason they gave the award is because Mises died the year before. 

If half of you knew the history behind the BS you spread teaching you economics would be that much easier. That is not the case though and we are let here struggling and dealing with the shear amount of misinformation and outright lies spread  the rest of you. Economics is not a miracle cure for anything, but everyone likes to blame it for not working, or simply not understand what it is actually for..  

Sat, 12/22/2012 - 02:21 | 3089369 AlaricBalth
AlaricBalth's picture

From the Department of Economic Analysis, Universidad Autónoma de Madrid, a study which shows a causal relationship between the study of economics and lying. It begins to confirm that which ZHers already knew. So the next time you read of an economic forecast which seems a bit unrealistic, consider the source.

"Do Economists Lie More?"
Raúl López-Pérez* and Eli Spiegelman†

Abstract: Recent experimental evidence suggests that some people dislike telling lies, and tell the truth even at a cost. We use experiments as well to study the socio-demographic covariates of such lie aversion, and find gender and religiosity to be without predictive value. However, subjects’ major is predictive: Business and Economics (B&E) subjects lie significantly more frequently than other majors. This is true even after controlling for subjects’ beliefs about the overall rate of deception, which predict behavior very well: Although B&E subjects expect most others to lie in our decision problem, the effect of major remains. An instrumental variables analysis suggests that the effect is not simply one of selection: It seems that studying B&E has a causal impact on behavior.

Sat, 12/22/2012 - 09:39 | 3089558 Umh
Umh's picture

Interesting read, but is it really about honesty or is it about the ability to seperate the reality of what's happening from the presentation that accompany it.


P. S. I do agree that people who think everyone else is doing it ( being dishonest ) tend to be amoung the least honest people.



Sat, 12/22/2012 - 12:44 | 3089705 AnAnonymous
AnAnonymous's picture

Another 'american' study. And this one about telling truth and lying.

So comical.

Sat, 12/22/2012 - 14:02 | 3089765 AlaricBalth
AlaricBalth's picture

Actually the study originated in Spain.
Ni xiang yige laizi zhongguo ma?

Sat, 12/22/2012 - 15:42 | 3089877 Downtoolong
Downtoolong's picture

Too late. 100% of zero = zero.

Sat, 12/22/2012 - 07:09 | 3089514 Tom_333
Tom_333's picture

Morality is for loosers.All of your money is mine.

Sat, 12/22/2012 - 16:31 | 3089783 cranky-old-geezer
cranky-old-geezer's picture



All of your money is mine.

You summed up the entire article in one sentence.

Yes, all our "money" belongs to the Fed.  Federal Reserve Notes (FRN) issued by the Fed belong to the Fed.

Not the government.   The federal government has to borrow FRNs from the Fed.  Yes the government prints FRNs for the Fed, but they belong to the Fed.  The government has to turn right around and borrow them back from the Fed.

But FRNs aren't money.  They don't fit the legal definition of money. 

FRNs are DERIVATIVES.   A gambling bet on the underlying value of something else.  That's what a derivative is.

But FRNs don't even qualify as derivatives, because they're not tied to the value of anything you can quantify and measure. 

FRNs really are like Monopoly money.  Just a game.   A game the government has imposed on America by law.  The government passed laws saying corporations must accept FRNs as payment if offered,  employers must pay employees in FRNs, taxes must be paid in FRNs, etc.

But FRNs belong to the Fed, so the Fed can impose requirements on use of their FRNs, like a "fee" for using them, otherwise known as the "federal income tax", which is paid to the Fed, not the US govt. 

IRS is an agency of the Fed, not the US govt.  There's no constitutional limitation on the IRS.  They can tax use of FRNs any way they wana tax it, however much they wana tax it.

Yes, congress abdicated its constitutional authority over money, turning it over to the Fed in 1913.

Constitution still says gold and silver are money in America.  It's still right there in the Constitution, it hasn't changed.  

But the Constitution only applies to the federal government.  It doesn't apply to the Fed.  Fed isn't bound by the Constitution.  Fed can do anything they want. 

Fed isn't the problem.  Federal government is the problem.  Congress is the problem.  Turning over their Constitutional control of money to the Fed is the problem.

Fed has taken all the gold & silver from the government for themselves, and issued worthless pieces of paper for Americans to use as "money".   They're worthless because they're not tied to anything tangible, they're not redeemable for anything tangible, they're not backed by anything tangible.

Tyler(s) seem to think they're backed by what's on the asset side of Fed's balance sheet.

It's nonsense.  There's no rule nor law anywhere saying that.  It's just a belief.   A false belief.

FRNs aren't backed by anything. Nothing. Zero. Nada. Zilch. Zip.

Imagine that.  The world reserve currency is just make-believe Monoply money. 

Fed has the entire world playing their Monoply game now.

Sat, 12/22/2012 - 19:53 | 3090370 Mentaliusanything
Mentaliusanything's picture

A bit like credit cards..... who gave the banks the righ to break the Law and Counterfeit outside the Federal reserve.

This shit is so wrong it bends the mind.(whats left of it)

Thu, 01/03/2013 - 14:24 | 3119334 marathonman
marathonman's picture

Honey badger don't give a shit.  Honey badger just takes what he wants.

Sat, 12/22/2012 - 08:11 | 3089528 Winston Churchill
Winston Churchill's picture

Morality at the Fed.Honest banks.Selfless politicians.

Oxymorons all.

Sat, 12/22/2012 - 10:27 | 3089599 Middle_Finger_Market
Middle_Finger_Market's picture

Government entity??

Sat, 12/22/2012 - 02:54 | 3089388 Harbanger
Harbanger's picture

"U bend over> I insert debt" That's the spanish game of teto.  I don't miss a beat dude, that's why I make the big bucks :)

Fri, 12/21/2012 - 22:12 | 3089133 francis_sawyer
francis_sawyer's picture

It's Tricky to Rock a Rhyme that's Right on Time... It's Tricky....


~ Run DMC

Sat, 12/22/2012 - 02:18 | 3089364 Harbanger
Harbanger's picture

I love Rock Box, but here's the lyric that explains what needs to happen with our "no failure" keynesian monetary policies.

"We don't need no water—Let the motherfucker burn!"

Fri, 12/21/2012 - 22:17 | 3089140 Cursive
Cursive's picture

Allow a failure?  Unimaginable!  Not to mention that the failure has been caused, aided and abetted by bankers.

Sat, 12/22/2012 - 02:39 | 3089379 Harbanger
Harbanger's picture

Our dear Politicians and their legislations have nothing to do with it.  That's why we need new and improved politicos to give us hope.  Suckers!

Mon, 12/24/2012 - 09:50 | 3092596 tango
tango's picture

They can't allow failure or that would be an admission that their whole philosophy is a lie.  It's that simple. There are "experts" who would (much) rather bring the nation to its knees than admit error. 

Aided and abetted by bankers? I always want to ask, "Did they operate in a vaccuum?"  The public repeatedly reelects the same politicians who set up (and perpetuated) this vast scheme of "making money" without producing a product or service, i.e Kerry and BFF, AIG.  We are not blameless. 

Fri, 12/21/2012 - 22:18 | 3089142 ebworthen
ebworthen's picture

The FED is ensuring societal collapse in the U.S.A. for the sake of their banking overlords.

The FED is a terrorist kabal of economic alchemist banker lackeys.

End the FED.

Fri, 12/21/2012 - 23:13 | 3089214 newengland
newengland's picture

End the Fed. Yes.

Sat, 12/22/2012 - 03:11 | 3089405 chumbawamba
chumbawamba's picture

End the Fed?  Really?

Do you have a bank account?  A credit card?  A mortgage?

It's one thing to exclaim, "END THE FED", it's quite another to call your wife a dirty whore as you cum all over her face.

Loose your own chains first, slave.

I am Chumbawamba.

Sat, 12/22/2012 - 04:07 | 3089441 Yen Cross
Yen Cross's picture

Money shots & Ass rapings are two different animals entirely/

Sat, 12/22/2012 - 09:20 | 3089551 tango
tango's picture

But WHY would the FED destroy America for the sake of a few bankers.  What good is a nation with 312 million serfs and a few bankers? Do they really believe they would be safe (espec from the more distubed posters here), well fed or that this is a longterm solution? It makes no sense.

The FED is simply doing what it's always done and when it doesn't work they have no other option but to repeat what has failed.  Acknowledging that manipulating rates, creating phony demand, bubbles and bursts would be to admit their entire philosophy has been wrong so they keep on keeping on.  What's depressing is that we have arrived at this current state not through conspiracies or grand plans but inept bumbling. 

Sat, 12/22/2012 - 11:08 | 3089635 economics9698
economics9698's picture

The tribe has no national borders or alliances.  They do not care if the USA falls into chaos.  They are parasites that move from host to host.  Their next mark will be the Far East, if those governments are stupid enough to allow them to operate over there.

Fri, 12/21/2012 - 22:20 | 3089143 ball-and-chain
ball-and-chain's picture

Bernanke is a sexy beast.

You people are playa haters.

He squirts milk from his delicious man-boobs, and the good folks at J.P. Morgan and Goldman Sachs can eat again.

Who could ask for more?  Those poverty-striken wretches need much love.

Gentle Ben is a caring soul.

In fact, I want Mr. Bernanke to come to my house just so he can have his way with my mother and sister.

That's how much I love the man.


Fri, 12/21/2012 - 23:18 | 3089218 Rusty Diggins
Rusty Diggins's picture

Benny was my favorite cabin boy in pirate training camp.... ummmmm

Fri, 12/21/2012 - 22:19 | 3089144 DoChenRollingBearing
DoChenRollingBearing's picture

Buying physical gold is a great partial way to fight Fed immorality.

And think for yourselves, be open to others' ideas, but weigh them.

Fri, 12/21/2012 - 22:27 | 3089155 Yen Cross
Yen Cross's picture

 And some silver. I don't want to quarter those Maple Leafs at the local food bank. I want some change for my bling/

Fri, 12/21/2012 - 23:26 | 3089228 mvsjcl
mvsjcl's picture

If you can find some silver. Look at the available inventories of Tulvig, Gainsville Coin, Ampex,.... Low as a banker's morals.

Sat, 12/22/2012 - 02:19 | 3089249 Yen Cross
Yen Cross's picture

 Native American concho belts have (1) pound of silver/  pre 1980

I'll send the pics of a few I have on hand ass master. Fucking douchebag wanabe fuckwad

  Why are you assclowns junking me? If I own 15.8333 troy ounces of silverx2 what's the big deal?


  You libtards amaze me/

Sat, 12/22/2012 - 02:20 | 3089276 Yen Cross
Sat, 12/22/2012 - 10:13 | 3089583 mvsjcl
mvsjcl's picture

Serial junkers abound, Yen. Beware.

Sat, 12/22/2012 - 20:15 | 3090404 IrritableBowels
IrritableBowels's picture

Whoa buddy, lay off the sauce. I think it's time for an intervention.

Sat, 12/22/2012 - 10:09 | 3089582 mvsjcl
mvsjcl's picture

Apparently, three moral bankers read my post. Good to know there's at least a few of them around.

Fri, 12/21/2012 - 22:23 | 3089149 ramacers
ramacers's picture

morality??????? please.

Fri, 12/21/2012 - 22:32 | 3089162 Stud Duck
Stud Duck's picture

If you asked these banker/politicans for the definition of "Moral Turpitude" thes would thing you were asking them what the length of there dicks !

Fri, 12/21/2012 - 22:36 | 3089168 Ineverslice
Ineverslice's picture


All mighty God...please let them all get what they deserve for Christmas, someday...

so it truly can be a happy new year.

Fri, 12/21/2012 - 22:43 | 3089177 Yen Cross
Yen Cross's picture

Good on you, and your family. When I visit my Mother ,Brother, Sister, (extended family over the weekend)  GAG/ 

  I'm just joking, I love my Family very much.

Sat, 12/22/2012 - 03:34 | 3089412 Harbanger
Harbanger's picture

Dear Santa, all I want for Christmas is a 2013 monster box for under $30/oz.  Thank you in advance.

Fri, 12/21/2012 - 22:39 | 3089173 LongSoupLine
LongSoupLine's picture

This isn't fucking morality, it's fucking financial and cultural genocide of the fucking middle class.

Fuck you Bernanke and the entire shit ass stinking fucking banking sector. Those fucks can burn and rot in a fucking landfill. Don't even fucking bother to bury those treasonous fucking assholes...

Other than that I hope everyone has a Merry Christmas.

Fri, 12/21/2012 - 22:46 | 3089183 Yen Cross
Yen Cross's picture

You were missed! Rip this ( theatrical menagerie) apart!  At least your [shit slinging] was only on the T.V.

Fri, 12/21/2012 - 23:11 | 3089212 Ineverslice
Ineverslice's picture


the masses today still have no frickin' clue what's being done to them...even with the Internet

With all the distractions, I wonder if we have a higher % of sheep than a century ago.

Just a meaningless, perpetual circle jerk here, as Central Banks have smooth sailing for as far as the eyes ....

Sat, 12/22/2012 - 02:53 | 3089389 Milton Waddams
Milton Waddams's picture

"Even with the Internet" being the operative assertion.  The Fed, while still disgustingly opaque, has never been more transparent.

Sat, 12/22/2012 - 04:23 | 3089444 Yen Cross
Yen Cross's picture

Are you kidding me? Hey, I have some swampland in Zimbabwe to sell you. The Fed is just (hunting and pecking) for more ways to Fuck your Ass Raw!

Sat, 12/22/2012 - 05:04 | 3089460 AnAnonymous
AnAnonymous's picture

This isn't fucking morality, it's fucking financial and cultural genocide of the fucking middle class.

How could that be?

Ben Bernanke is working at saving what can be saved of the 'american' middle class.

The 'american' middle class is doing well.

But somehow, 'americans' can not put with the way 'americanism' deals with.

They keep clinging to their 'american' middle class as it was something engraved that could not be taken from them.

'American' leaders are servants to the middle class. But 'americans' who are slipping toward the wrong side of 'americans' can not come to terms that it also means they are less and less middle classers.

Yet the telling is plain and outright.

'Americans' are those people who started claiming the natural rights theory, that is some unalienable rights were attached to the human condition.

Rights that include stuff like freedom. Yet 'americans' thrived on slavery. To solve that paradox, 'americans' indulged themselves in denying the breaking of their own principles by dismissing the human condition of their slaves.

Every human being is born a human being. It is what is unalienable. Not the 'american' rights.

But for comfort, 'americans' dismissed that point.

And nowadays, less and less 'american' middle classers can not put up with the very fact that they are slipping out of the middle class.

The 'american' middle class which is a social construct, meaning it can be taken away.

'Americans' have proven their capacity to dismiss the unalienable and yet they should limit themselves now it comes to something that can be stripped.

The 'american' middle class in action.

Ben acts for the welfare of the 'american' middle class. it just happens that the 'american' middle class is overpopulating the world. Too many of them, not enough Indians.

Ben, a faithful 'american' servant is compelled to take the only route 'americanism' allows him in: in order to save the US american middle class, he has to sacrifice part of it. No other 'american' solution around it.

Sat, 12/22/2012 - 09:41 | 3089561 northerngirl
northerngirl's picture

Therefore, this is good as long it is the, "Other Guy", is being sacrificed - This is the mentality of the general public.  I don't disagree with your post, we get what we deserve.  I waiting for a time when there are no, "Other Guy's", around to be sacrificed. 

Sat, 12/22/2012 - 10:25 | 3089596 TuPhat
TuPhat's picture

It sounds like you don't know anything about being American or anything about rights.

Sat, 12/22/2012 - 13:30 | 3089746 Oh regional Indian
Oh regional Indian's picture

It sounds like you are tuPhat.

AnAn is mostly spot on.

Except for Americans with Big blind spots. Most Americans know only one thing thing about Right(s). That is that they are Right. And it's their right. Everything that is. Moar...


Sat, 12/22/2012 - 13:32 | 3089748 formadesika3
formadesika3's picture

It's a ChiCom AI system you're responding to.

Sat, 12/22/2012 - 13:43 | 3089761 akak
akak's picture

With emphasis on the "A" rather than the "I".

Sat, 12/22/2012 - 14:12 | 3089785 formadesika3
formadesika3's picture

lol. Yes, that's how you can tell.

Fri, 12/21/2012 - 22:40 | 3089174 buzzsaw99
buzzsaw99's picture

that barely scratches the surface of the evil bank maggots

Fri, 12/21/2012 - 22:44 | 3089180 Cabreado
Cabreado's picture

This is not about "morality" and this is not about "The Fed."

This is about Control and the Pathologically Self-Absorbed who require it as they do oxygen.

Do not give away too many masks and labels for the Narcissists and Sociopaths to hide behind.


Fri, 12/21/2012 - 22:47 | 3089185 Rathmullan
Rathmullan's picture

You mean the morality of the Rockefellers, Morgans, Rothschilds? To this day some of their heirs dress in crimson hooded cloaks and devour still throbbing hearts ripped from the chests of infants every Christmas eve.

Fri, 12/21/2012 - 22:54 | 3089196 formadesika3
formadesika3's picture

Now wait a minute you're going too far. They most certainly don't rip the still throbbing hearts from the chests of infants every Christmas eve. I have it on good authority they rip the still throbbing hearts from the chests of widows and orphans every Christmas eve.

Sat, 12/22/2012 - 00:46 | 3089205 newengland
newengland's picture

The constant war tribe AshkeNAZI descended from Genghis Khan are Zionists - not jewish, not christians, not atheists. They are the majority in only one place: Switzerland, the 'gnomes of Zurich', as the British satirical magazine 'Private Eye' described them...before its present pet editor joined the Party.

And remember this: the AshkeNAZI stole the jew belief that the messiah would come as a warrior; the jews who admonish their christian brothers who believe in Jesus, the prince of peace who threw the money changers out of the temple. The jews who live peacefully with their christian brothers and sisters. Meh. It's a peaceful family disagreement :-)

The ruler of the AshkeNAZI was so disgusted with his own people that he considered importing a religion to civilise them. He chose talmudism, and the jews and everyone else has suffered even so. They remain a warring tribe, the ruin of the Western world, and Switzerland is the only place where they are the majority...the puppet masters dictating to bought Western career politicians.

Just thought I'd add a little color to the discussion. Carry on...

Fri, 12/21/2012 - 22:52 | 3089195 Yen Cross
Yen Cross's picture

 "Long Soup Line" for president!  He makes shit look good/ I love that guy!

Fri, 12/21/2012 - 22:59 | 3089202 LongSoupLine
LongSoupLine's picture

Ha...I wouldn't last a fucking day in the white house. I'd tear both parties a new asshole and have the entire financial sector's balls in a fucking vice within the first hour of swearing in.

Hell, I'd disappear faster than a two peckered billy goat into a herd of ewes.

Fri, 12/21/2012 - 23:04 | 3089206 formadesika3
formadesika3's picture


Fri, 12/21/2012 - 23:15 | 3089215 Yen Cross
Yen Cross's picture

  Long Soup Line, is an  {expletive genius}! He is so intelligent, and has found a way to use vulgarities to educate people.

  That man kicks ass!  He can shit on my toilet ANY TIME!

Fri, 12/21/2012 - 23:36 | 3089238 Ineverslice
Ineverslice's picture
Fri, 12/21/2012 - 22:58 | 3089200 newengland
newengland's picture

Ace post.

A few well chosen words sum up the state we are in.

'A wise man does at first what a fool does at last.'

No one owns an individual and their community, and it is a very bad thing that modern career politicians think otherwise.

Fri, 12/21/2012 - 23:01 | 3089203 formadesika3
formadesika3's picture

Nicholas Biddle is throwing a dinner party for you, Ben Shalom Bernanke.

In the lowest circle of Hell.

Fri, 12/21/2012 - 23:09 | 3089211 newengland
newengland's picture

Chairsatan does as he is told, and CONgress relies on him. The gnomes of Zurich are pleased.

Sat, 12/22/2012 - 03:25 | 3089421 Yen Cross
Yen Cross's picture

 The gnomes of Zurich. That was brilliant.  I'm thinking of " The Shining"  HERES JOHNNY!!!!!!! - YouTube

Fri, 12/21/2012 - 23:08 | 3089208 knukles
knukles's picture


Shit like this's the reason there's a Hell.


The path of the righteous man is beset on all sides by the inequities of the selfish and the tyranny of evil men. Blessed is he, who in the name of charity and good will, shepherds the weak through the valley of darkness, for he is truly his brother's keeper and the finder of lost children. And I will strike down upon thee with great vengeance and furious anger those who would attempt to poison and destroy my brothers. And you will know my name is the Lord when I lay my vengeance upon thee. Ezekiel 25:17
Fri, 12/21/2012 - 23:24 | 3089216 newengland
newengland's picture

Amen, brother and sister. Throw the moneychangers out of the temple. We can have a peaceful discussion about the meaning of the messiah another time. The true Judeo-Christian tradition is under attack. This is a time for community, defending our own.

Big Brother and the Pharisee are hateful things.

The true Judeo-Christian belief liberated the West. Let's do it again.

The Hindus and Buddhists think similarly, and they are also under attack by the debt pimps.

Sat, 12/22/2012 - 07:35 | 3089518 merizobeach
merizobeach's picture

"you will know my name is the Lord when I lay my vengeance upon thee"

So... Lord Bernank, then?

Sat, 12/22/2012 - 10:04 | 3089578 shovelhead
shovelhead's picture

Then Samuel L. Jackson blasts the shit out of the guy.

Sat, 12/22/2012 - 11:43 | 3089654 Hulk
Hulk's picture

So when is this striking down shit going start ???

Sat, 12/22/2012 - 03:03 | 3089221 Elk peanus
Elk peanus's picture


Fri, 12/21/2012 - 23:22 | 3089223 IamtheREALmario
IamtheREALmario's picture

I BELIEVE that we ARE entering a new age, where evil will lose its power over the people. Sure, many of us may die to the evil of Obama, who orders and pays people to kill innocents, and his masters. However, I honestly BELIEVE their time is coming to an end. Their selfish choice will be to kill as many of the people as they can ... but that will only speed their ending as many of their minions will see the error of their ways, simply because of the evil that they have mindlessly followed, and they will be saved. I cannot say that losing 25 to 35% of the good people is worth the victory. Losing good souls never is a fair trade-off for the rotten souls... but the souls are saved, if not the flesh.

A new age has come ... their time is ending. The NEW greatest generation will not tolerate them. They cannot hide.

Fri, 12/21/2012 - 23:25 | 3089227 Yen Cross
Yen Cross's picture

 Has any one read / pictogram-ed  ( Dantes Inferno?)  Knuckles is excluded.  / the guy is a human Thesaurus/

Fri, 12/21/2012 - 23:42 | 3089242 newengland
newengland's picture

Man vs machine: the money changers. 

Love of community will bring riches. Love of money will bring ruin for all.

See the state we are in: career politicians and central banks stuffing their own pockets, and screwing everyone else.

There is no real economy unless people have living wages. The fake economy relies on bureaucracy paid by vote grabbing politicos who are bought by money printing central banksters.

There are two ways to enslave a nation: by the sword or debt. Fact.

The Fed,the AshkeNAZI,  use both tools.

Fri, 12/21/2012 - 23:47 | 3089256 Yen Cross
Yen Cross's picture

Well done New england.  The next circle?

Fri, 12/21/2012 - 23:52 | 3089261 newengland
newengland's picture

Dear Yen, 

We have nothing to fear but cowardice in the face of the AshkeNAZI. No surrender.

For family, for honest trade, for liberty... trade on :-)

Sat, 12/22/2012 - 00:17 | 3089272 Yen Cross
Yen Cross's picture

 A Righteous man you are. People can junk away, but we have what they most desire. (Family)

Sat, 12/22/2012 - 00:30 | 3089290 newengland
newengland's picture

We do, and the Republic was founded on the idea of family: one for all, all for one. No free rides, and no surrender.

Sat, 12/22/2012 - 00:40 | 3089300 Yen Cross
Yen Cross's picture

 Pull your own weight, or stay under the porch! 

Sat, 12/22/2012 - 00:51 | 3089311 newengland
newengland's picture


Fri, 12/21/2012 - 23:41 | 3089248 hannah
hannah's picture

little known clause in the Federal Res Act.....

Federal Reserve Act
Section 22. Offenses of Examiners, Member Banks, Officers, and Directors

Any officer of the Federal Reserve may at any time piss on any person they chose without cause or provocation.



Sat, 12/22/2012 - 00:18 | 3089273 williambanzai7
williambanzai7's picture


Sat, 12/22/2012 - 00:27 | 3089286 Yen Cross
Yen Cross's picture

It's not big enough! A Valiant Effort banzai-7. Ignorance is bliss...

Sat, 12/22/2012 - 00:28 | 3089288 newengland
newengland's picture

Correct again, William. End the Fed. 

Sat, 12/22/2012 - 00:20 | 3089278 Seer
Seer's picture

I find it pretty naive of folks to proclaim that the "economy" is being inflicted upon as though: 1) The "economy" really exists (is real); 2) A pure "economy" based on perpetual growth on a finite planet could never encounter such silliness.

The reason why things are so confounding is because everyone accepts the faulty premise of an "economy" that's predicated on perpetual growth.  THAT'S A PONZI!  Expecting a Ponzi to be sustainable, to operate with sanity/reason is insane/irrational!

Sat, 12/22/2012 - 00:40 | 3089297 newengland
newengland's picture

'everyone' ? Perhaps you might consider reality: trusting people assumed that those in positions of power would be true to their word, rather than cheat 'everyone', and run off with the money, the kudos, the bullet proof vests while leaving 'everyone' else to pay for it.

I did not trust the money masters, nor their political puppets, but that gives me no reason to blame 'everyone', as you do.

The gnomes of Zurich will be pleased with your self-flagellation, pet.

Sat, 12/22/2012 - 01:15 | 3089330 Seer
Seer's picture

The author, and so many just like him/her, are only agitating for some angle to profit off of, all the while making it look like they're trying to provide some "solution."  I call BS.  There is no "solution" to a system that's built upon a highly flawed premise.  Start questioning the premise or continue to bash your head(s) against the wall.

People are bashing the Fed when they're just part of a failed premise (which existed before they are even the Fed).  Bash them to a million pieces and then continue on with forcing growth that can no longer be delivered.

That which cannot continue forever won't.  You don't believe that all of this could, do you?

I'd be happy to have a debate based on logic.

Sat, 12/22/2012 - 10:30 | 3089601 mvsjcl
mvsjcl's picture

"...bashing the Fed when they're just part of a failed premise..."


I guess whether the premise has failed or not depends on what side of the economic divide you stand. I'm sure that there are a very few, perhaps 0.001 percent, who feel that the premise has been a splendid success. But you, being the Seer, already know that.

Sat, 12/22/2012 - 01:15 | 3089329 Anusocracy
Anusocracy's picture

The economy doesn't have to have perpetual growth.

It just has to grow until it creates technology that is akin to magic.

Barring a major destruction of civilization by government, it should happen about halfway through this century.

Sat, 12/22/2012 - 01:21 | 3089335 Seer
Seer's picture

"It just has to grow until it creates technology that is akin to magic."

Hopium reigns supreme :-)

BTW - For those who don't understand what technology is, it's a PROCESS; it is NOT energy or physical resources (technology is what you use on/apply to energy and physical resources).

I'm sure that halfway through this century we'll come up with the answer being "42."

Sat, 12/22/2012 - 02:46 | 3089382 formadesika3
formadesika3's picture

GDP is a sad substitute for Growth < Growth is a sad substitute for Prosperity < Prosperity is a sad substitute for Advancement in Material Well Being < Advancement in Material Well Being is a sad substitute for Balance Within Oneself.

Real wealth is a balance of the material, intellectual and spiritual.

Sat, 12/22/2012 - 03:21 | 3089416 formadesika3
formadesika3's picture

I just noticed that the world didn't come to an end after all.

Carry on.

Sat, 12/22/2012 - 09:01 | 3089546 Optimusprime
Optimusprime's picture

People have been gulled into such nonsense at least since the time of Francis Bacon.  Time to wake up!  This is really it!

Sat, 12/22/2012 - 00:36 | 3089295 WallowaMountainMan
WallowaMountainMan's picture

all the crap rambling responses asides, the baupost folks hit the nail on the head. it is so way past time to abandon the miniscule and get to the big picture. big picture is the only defence to the ever changing nano second runaway distractions that never can be caught upto because catching them takes too long scenarios.

big picture. big questions. the only and best last hope.

ty baupost.


Sat, 12/22/2012 - 00:49 | 3089308 newengland
newengland's picture

Most posts said as much, then expanded on the idea. Being tardy is no excuse for you to assume moral superiority.

Sat, 12/22/2012 - 02:14 | 3089368 Seer
Seer's picture

And just how big of a big picture are you seeing?

Sat, 12/22/2012 - 00:39 | 3089298 YesWeKahn
YesWeKahn's picture

I would say: jail the FED, better yet kill the FED.

Sat, 12/22/2012 - 00:40 | 3089299 Bansters-in-my-...
Bansters-in-my- feces's picture

Pssstttt. The FED is NOT a Goverment entity. and the "morality " of the FED....well thats an oxy-moron.

 The FED is corrupt to the core,and the goverment continues to allow it and still accepts pay checks from it.

Iknow,shocking isn't it.

Sat, 12/22/2012 - 00:53 | 3089310 ekm
ekm's picture

Big fan of Seth Klarman, just finished reading his book Margin of Safety.


Not a catholic at all, but the Pope nailed it today. He said that Homosexual Marriage philosophically is DENIAL OF NATURE.

A man does not want to be man, so humans make a law that a man is declared an woman. An woman does not want to be an woman, so the humans make a law that she is declared a man. Nature has not changed in itself, it's just the law that attempts to give the appearance of the change.


Same as with the Fed. It is the NATURE of life to rise and fall, to die and resurrect, to burn and rebuild. Humans create the Fed and legislate that the nature has changed: Nobody should die, nobody should fail.

This is so stupid. This is like saying that humans can easily legislate that lions are pets hence they can be purchased to play with kids.


Sat, 12/22/2012 - 00:57 | 3089319 newengland
newengland's picture

The Fed is a construct of the AshkeNAZI who seek domination by anyway they can get it, and weakening the human race is one way to do it, by fair means or foul. They think that machines can replace man, and their lives will be better off for it if the world is de-populated. Eugenics, the Nazi way. Debt slaves, the Nazi way. Fascist government, the Nazi way. Relentless propaganda by their main scream media, the Nazi way. Central banks, the Nazi way. 

Sat, 12/22/2012 - 00:58 | 3089320 Yen Cross
Yen Cross's picture

Merry Christmas EKM.

Sat, 12/22/2012 - 01:00 | 3089321 ekm
ekm's picture

Merry Christmas, YEN CROSS.

Sat, 12/22/2012 - 01:36 | 3089342 Seer
Seer's picture

"Not a catholic at all, but the Pope nailed it today. He said that Homosexual Marriage philosophically is DENIAL OF NATURE."

Great.  Xenophobes and now homophobes...

Well, because humans ARE of nature then nature can hardly be in denial of itself, no?

Further, explain asexual, lots of it can be found in nature.

Always wondered why a god that didn't want this confusion would create it.  Homosexuality has been in existence in roughly the same percentages (10%?) throughout human history.  Topping this all would be hermaphrodites.

The Fed is a human construct of deception.  Nature is all about deception.  Deception is a built-in for survival.  In the case of the Fed deception was meant to enable the survival of the elites.  So, without resorting to xenophobia or homophobia one can sum it up as thus:

Laws are a human construct; humans, being part of nature, are ingrained with the use of deception for survival purposes; laws, therefore, can be said to be products of deception.

The planet goes through glacial cyclings.  Pretty much wipe the slate clean.  Be interesting to see what "rebuilding" happens following the next glacial period.

Yeah, kind of hard to get mad at the planet, or to ourselves.  That's why xenophobia and homophobia are such great tools for deception.

Sat, 12/22/2012 - 01:47 | 3089346 ekm
ekm's picture

I would greatly dispute the numbers. How do you know it's 10%? Why not 70%?


Asexuality is again natural, not by legislation.

Sat, 12/22/2012 - 02:41 | 3089381 Seer
Seer's picture

"I would greatly dispute the numbers. How do you know it's 10%? Why not 70%?"

Of course you would.  Go ahead ahead and spout off 70% for all I care.

The reference to the Pope conflated the virtual with nature: as often the case with religion (which is human-made).  That the "Pope" or anyone else can say what nature intends is pure bunk.  Instead, what he/they mean is that it's the way that he/they wish it to be (in order to serve her/their purposes, again keeping in mind that nature (hence humans) is about deception).  "Marriage" is nowhere to be found in nature; that is, where does nature write this? (there are clear examples of fidelity, but fidelity != "marriage").

Like homosexuals are going to over-populate the earth, in which case nature isn't too worried.  And I don't think that since we're under the influence of nature and deception that trying to equate the Fed or ANY "institution" (headed by a "Pope" or otherwise) as being moral, a human construct (that itself tends to defy nature, IS in fact silly.

Anyway, this is drifting off topic.  And, I believe that we both agree that the Fed sucks and laws are flawed.

Gotta run now.  Thanks for playing! :-)

Sat, 12/22/2012 - 02:48 | 3089386 ekm
ekm's picture

There's a huge pushback against organized religion and it makes sense. The state has become like organized religion.

Thx for the debate. Good night.

Sat, 12/22/2012 - 02:28 | 3089376 ILikeBoats
ILikeBoats's picture

Homosexuality is between 2.5 and 3% , depends on whether you are talking about men or women.  The 10% is a fake, propaganda number used for manipulation and to guilt-trip you into supporting homo-behavior due to human's desire to conform.

Sat, 12/22/2012 - 02:46 | 3089383 ekm
ekm's picture

If a state votes that homosexual marriage should be legal, that state must have a huge number of people liking homosexuality. It could even be 70%.


What I'm saying is that even if 70% of people declared that they DECIDE to be homosexuals, that would not make it natural in terms of marriage. A passive homosexual can say he is natural, but he can for sure use his penis.

It's a matter of free will. If a person wants to be homosexual, it's his free will, let it be so.

Just don't impose that on everybody else.

Sat, 12/22/2012 - 02:46 | 3089384 Yen Cross
Yen Cross's picture

 I like Women. Monkeys hump each other all the time!  (Jungle Love) Even Monkeys are smart enough to find where { peg fits hole}

I'm a [ sentient ] Human being that likes Women.

  If men want to bump uglies, more power to them. Just keep that shit away from my children!

Sat, 12/22/2012 - 02:56 | 3089392 formadesika3
formadesika3's picture

@ Seer,

Interesting theory about Deception.

I've developed a theory - a Special Theory of Deception, if you will - that says that human language developed out of an arms race between the need to communicate and the need to deceive. Observe that language is a two-edged sword in this respect. It serves both purposes equally well.

But you, you have developed a General Theory of Deception.


Sat, 12/22/2012 - 12:45 | 3089708 Ricky Bobby
Ricky Bobby's picture

I am sure at some point the same thinkers will say  "gravity has a larger impact on the obese therefore in the name of social justice we outlaw gravity"

Sat, 12/22/2012 - 14:03 | 3089779 ekm
ekm's picture

Good one.

Sat, 12/22/2012 - 00:54 | 3089315 Bansters-in-my-...
Bansters-in-my- feces's picture

The writer(s) of this article tries to trick you (us) into thinking the FED is a "goverment entity" Jerk(s)

Sat, 12/22/2012 - 06:34 | 3089496 smacker
smacker's picture

Fair enough. But the Fed is running monetary and fiscal policy nowadays. May be Banana Ben plans to move into the White House.

Sat, 12/22/2012 - 01:19 | 3089333 EvlTheCat
EvlTheCat's picture

I suggest reading reading, with an open mind (if you are not religious), "The Last Essays of Georges Bernanos".

Sat, 12/22/2012 - 01:57 | 3089350 ekm
ekm's picture

Irreligiosity does not exist.

Even atheists, live as if God does not exist, but that's it.

There is no human on earth who can live as if there are no bigger forces affecting his or her life.



Sat, 12/22/2012 - 07:23 | 3089515 magpie
magpie's picture

"When people stop believing in God, they don't believe in nothing -- they believe in anything."

(meaning atheism does exist, and comes in many shapes)

Sat, 12/22/2012 - 12:15 | 3089674 ekm
ekm's picture

By trying to oppose what I said, you actually confirmed what I said.

Sat, 12/22/2012 - 13:30 | 3089689 magpie
magpie's picture

I wasn't very happy with your definition of irreligious, and there are so-called nihilists...who do believe in nothing. It isn't very common, so at least in that aspect you and Chesterton are correct.

My favourite example in this question is a classical one, the deaths/suicides of Brutus and Cato the Younger - who killed themselves for both atheistic and theistic motives - wishing to escape Caesar's and Octavian's tortures respectively. Brutus had to console himself with an even for today's standards extremely materialistic and atheist atomic philosophy that not even a Dawkins could stomach, while Cato tried killing himself twice, inspired by Platonic mysticism which held the soul immortal in a way that all revealed religions and Newagers would shirk from.

What is true ?

Sat, 12/22/2012 - 16:33 | 3089945 ekm
ekm's picture

Life is true.

Sat, 12/22/2012 - 01:56 | 3089355 q99x2
q99x2's picture

Morality of the FED? The Federal Reserve is a squid like institution not an individual person. Only individuals possess morality dude.

This does not compute again.

Sat, 12/22/2012 - 02:28 | 3089375 Marley
Marley's picture

Where is everyone?  Bunkers or Call of Duty?

Sat, 12/22/2012 - 04:52 | 3089454 AnAnonymous
AnAnonymous's picture

What kind of government entity cajoles savers to spend, when years of under-saving and over-spending have left the consumer in terrible shape?

So yes, allowing a consumer to consume more and more is leaving the consumer in a terrible shape.

It is amusing how 'americanism' always leads to blend everything in order to try and acquire a kind of meaning.

Sat, 12/22/2012 - 05:44 | 3089481 All Risk No Reward
All Risk No Reward's picture

Let me type very slowly so everyone can understand.  It isn't easy to reject the social engineering programming, but you can do it.

There is no dual mandate.  The Fed, the media, the politicians and everyone else who spouts a "dual mandate" is either lying or deceived.  No, there is no triple mandate, either.

The true mandate of the Fed is MONOLITHIC.  They have to distract the masses from their true mandate because they criminally broke their true mandate for 30 years running and THEIR CRIMINAL ACTIONS ARE THE DIRECT CAUSE OF THE ONGOING ECONOMIC COLLAPSE THAT WILL TRANSFER SOCIETY'S ASSETS TO THE CORPORATE FRONTS OF THE CRIMINALS THEMSELVES. "Section 2A Federal Reserve Act".  Stop being a chump and go to the SOURCE DOCUMENTS to get your information.


Federal Reserve Act Section 2A. Monetary Policy Objectives

The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.


Note the true mandate - "shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production".

That's the mandate, people.  There is only one mandate.  The *expected results* of following the SINGLE MANDATE are multiple, BUT THE MANDATE ITSELF IS SINGULAR.

So, did the Fed keep monetary and credit aggregates commensurate with the GDP (realized potential production) as per their mandate?

Let's view a chart with sourced data (first chart):

"Exponential to" does not equate to "commensurate with."  They broke the law.

Do you want to know why prices are stable (no inflation) and why unemployment is high?  One reason is that the Fed criminally broke its mandate to blow the world's largest credit bubble.

Oh, and there is no penalty written into the Fed "laws," so there is no penalty that can be applied to these criminals for their crime against humanity.

And some people still think these criminals are stupid.

The FEd lied to you.  The media lies/misleads you out of ignorance  I go to source documents and prove the Fed is a criminal, rogue organization that criminally blew the credit bubble that is now blowing up in our faces.

Even so, nobody will write about it in a main article.  It is career suicide.  You know, the stupid people have all your money and stole all your excess.

Man, how stupid can they be ripping the world's face off with complete immunity to prosecution. 

Imagine if they were smart!



Sat, 12/22/2012 - 09:53 | 3089567 Deacon Frost
Deacon Frost's picture

Yes, 'All Risk No Reward', you have it exactly right, the sheeple will know the truth soon enough.

Sat, 12/22/2012 - 10:46 | 3089619 mvsjcl
mvsjcl's picture

KD? Is that you?

Sun, 12/23/2012 - 03:44 | 3090965 All Risk No Reward
All Risk No Reward's picture

Ha!  No, it isn't Denninger, but that is where I first ran across that information - so you can consider it an extension of Denninger's work.  I'm spreading the word about these hoaxing criminals...  spread the word!

If you want to kick it up a notch, though, check out the fraud that is debt based money brought to you by the same criminals.

Debt Money Tyranny

This is Art of War, financial style.

They aren't bumbling idiots, they are patient, cold blooded assassins waiting for their time to pounce and believing their victrims will never figure out they've been had.

Sat, 12/22/2012 - 14:31 | 3089782 formadesika3
formadesika3's picture

Thank you fro putting it into perspective, ARNR.

They broke the law. Which law?

Go to Wikipedia, type in "Constructive fraud" for the answer.


Now, who has standing?

Answer: every single individual excluding the money center bankster mafia has standing and has a right to sue in a class action lawsuit. This includes virtually the entire population of the U.S.

What is the remedy?



Sun, 12/23/2012 - 03:46 | 3090969 All Risk No Reward
All Risk No Reward's picture

Ending the Fed is good, but not sufficient.  We need to end debt based money.  We need to root out the criminals who imposed this fraud upon us - and that includes everyone in government who is not calling out debt money as fraud.

We need an educated populace not dumb downed and conditioned by useful idiots working within and supporting "the machine."

It doesn't look good from my vantage point.

We live in interesting times.

Sun, 12/23/2012 - 04:39 | 3091004 formadesika3
formadesika3's picture

Yes, interesting times.

I felt compelled to continue your line of reasoning. But I'm not really optimistic.

Good night, I have to turn in.

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